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It has been said that nothing dies harder than a bad idea. Nearly two decades ago, while I was serving as U.S. Secretary of the Interior, Alaska's Sens. Frank Murkowski and Ted Stevens wanted to build a 38-mile gravel road in their state, with 11 miles going through the Izembek National Wildlife Refuge. The road would connect the salmon canneries in King Cove, population 948, with a larger airport in the neighboring town of Cold Bay to expand and speed shipping. My boss at the time, President Clinton, promised to veto the bill for a simple reason: It was a bad idea. Based on federal and state documents, the Wilderness Society has estimated the total cost of the "road to...

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It has been said that nothing dies harder than a bad idea.
Nearly two decades ago, while I was serving as U.S. Secretary of the Interior, Alaska's Sens. Frank Murkowski and Ted Stevens wanted to build a 38-mile gravel road in their state, with 11 miles...

Los Angeles City Controller Ron Galperin called on pension officials Wednesday to take new steps to cut costs — possibly by merging the management of two of its three retirement systems.
During the recession and in its aftermath, pension costs for Los...

Malibu Village, one of Malibu's biggest shopping centers, has been sold to an Atlanta real estate investment firm that is building up its California presence.
Jamestown bought the 50,000-square-foot outdoor mall at Cross Creek Road and Pacific Coast...

A team of real estate investment executives has founded an investment firm called Turner Impact Capital that is intended to do "good works" while returning strong financial returns for investors.
The Santa Monica firm is led by Chief...

In a place better known for bourbon, baseball bats and thoroughbred racing, Louisville's Kentucky Kingdom was once the state's top tourist destination.
A decade later, the declining amusement park was shuttered and left for dead.
Now the same man who...

Sprint will pay $7.5 million to resolve federal regulators' inquiry into its failure to honor consumers' requests that they not receive telemarketing calls or texts, the Federal Communications Commission said Monday.
The agreement between Sprint...

Banks are reviving some of the riskier lending practices that preceded the financial crisis, attracting attention as you might expect, although they say they're keeping a lid on things this time.
One trend is enabling homeowners to tap equity...

Last spring, Edit Novshadyan and her husband were happy to land a Sun Valley three-bedroom house, with enough room for their son to play and their family to grow. Another child was on the way.
So they signed a one-year lease with Invitation Homes, an arm...

A prominent Los Angeles developer has joined with the co-founder of Guggenheim Partners — the owner of the L.A. Dodgers — to launch a massive real estate investing venture.
Nelson C. Rising, with a long list of commercial office towers to his credit, and...

Cable companies Comcast Corp. and Charter Communications have agreed to a $20-billion deal that would exchange subscribers in numerous markets, including Los Angeles, should Comcast prevail in its bid to acquire Time Warner Cable.
Nearly 280,000 homes in...

Speculation continues that ownership of Formula One might be on the verge of changing hands.
Canadian fashion tycoon Lawrence Stroll has been in talks about buying part of the international racing series, Britain's Sky News reported last week, and he's...

Cable companies Comcast Corp. and Charter Communications have agreed to a complex $19.5-billion deal to divvy up subscribers — including parts of Los Angeles, Riverside and Ventura counties.
Comcast is already attempting to take over Time Warner Cable...

Is Silicon Valley in a "bubble"?
When you start asking that question of people, the first reply you inevitably get is: Well, what do you mean by 'bubble'?
To which I reply: Well, um, er...
After fumbling around for an answer, I decided to...

Some critics say the recent decisions by Toyota and Occidental Petroleum to move their U.S. headquarters from Southern California to Texas are just the latest signs of how toxic the state's business climate has become. Yet the state continues to attract...

In his first public remarks on the shift of 3,000 Toyota Motor Corp. jobs from California to Texas, Gov. Jerry Brown chalked up the loss on Friday to “the creative destruction of capitalism.”“I put the emphasis on creative,” Brown told reporters after...

As part of the NBA's sweeping sanctions against Clippers owner Donald Sterling over his controversial racial remarks, NBA Commissioner Adam Silver is urging the league's other owners to push for the Clippers' sale.
Silver said that if three-quarters of...

Moelis & Co. climbed in its trading debut after raising less than planned in the first U.S. initial public offering of an investment bank since the financial crisis.
The shares rose 4.6% to $26.15 on Wednesday after pricing at $25. Moelis raised $163...

Boutique Los Angeles investment bank Moelis & Co. is seeking a valuation of as much as $1.58 billion in its initial public offering.Moelis may raise as much as $243.5 million by selling 8.4 million shares for $26 to $29 each, according to a regulatory...

Over the last six years, roaring bears and raging bulls both have had their turns to be right about financial markets.
But investing success in the next market phase could be far more about pinpointing individual opportunities than riding a wave.
This...